Teal Done, Goongarrie Lady to Come

THE INSIDE STORY: Intermin Resources (ASX: IRC) is a gold exploration and mining company focussed on developing and operating gold mines within the Kalgoorlie and Menzies areas of Western Australia.

Intermin Resources currently has $8.5 million in the bank, carries no debt, and has a further $1 million in investments.

Intermin’s strategy is to develop a pipeline of gold mining projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions.

A strategy that was put to effective use at the Teal gold mine, from which ore was processed at the nearby Lakewood toll milling facility.

“We started the Teal gold mine late in 2016 and poured the last gold at that operation in May 2018,” Jon Price told The Resources Roadhouse.

“Teal was forecast to produce around 18,000 to 19,000 ounces of gold but produced 21,836 ounces.

“The development and operation of the Teal mine was a perfect example of our strategy to generate cash from developing and operating mines while using third party infrastructure in the region.”

The 100 per cent-owned Goongarrie Lady gold mine 85km north of Kalgoorlie-Boulder has been designated as Intermin’s next venture.

A scoping study for Goongarrie Lady in April 2017 was followed up with infill drilling to increase geological knowledge and confidence in the project.

A Feasibility Study followed, delivering an updated JORC 2012 Mineral Resource Estimate for Goongarrie Lady of 0.31 million tonnes at 2.4 grams per tonne gold for 24,000 ounces with over 87 per cent of the Mineral Resource Estimate sitting in the Measured and Indicated categories.

A maiden Ore Reserve estimated 0.135 million tonnes at 2.94g/t gold for 12,700 ounces.

The FS included metallurgical test work on representative samples from all ore zones achieving estimated recoveries of 94 per cent.

The Goongarrie Lady FS found the project to be technically strong and financially viable with specifications including an openpit mine designed to produce 135,000 tonnes at a fully diluted grade of 2.94g/t gold for 12,700 ounces over a seven month mine life.

Third party milling at 94 per cent metallurgical recovery has been estimated to recover 11,938 ounces of gold while capex is low at $0.73 million with C1 Costs of $1,131 per ounce and All In Sustaining Costs of $1,164 per ounce.

“The Scoping Study established around 10,000 to 15,000 ounces of gold with all in costs around $1100 to $1200 delivering a profit margin of around $500 per ounce,” Price said

“Three months to first gold and then the mine will be done and dusted within seven months, depositing some five to six million dollars in the bank, based on a $1,700 per ounce gold price.”

Next up for Goongarrie Lady is completing already well-advanced statutory approvals by the September and December quarters and a review of development options and negotiations with mining and haulage contractors and third-party toll milling operators leading to anticipated Board approval for mine development in 2019.

“The Feasibility Study gave us robust economic results with strong projected cash margins and reduced geological risk for the project,” Price said.

“As with the Teal gold mine, we have taken a conservative approach at Goongarrie Lady regarding both Resource estimation and development studies with infill drilling increasing geological confidence and mine optimisation studies adopting conservative cut off grades to ensure acceptable cash margins.”

With Goongarrie Lady development progressing, Intermin is casting its discovery net wider, commencing with a Resource growth drilling program of 55,000m planned within a $4 million budget.

A combination of RC and diamond drilling is underway with the stated aim to grow Resources and Reserves to one million ounces of gold to underpin a higher production profile and support a standalone milling option.

Fifty percent of the drilling budget is allocated to new discovery drilling and 50 per cent on Resource growth to grow the current Resource base.

“We are working to grow the business to where we want to see ourselves in 18 to 24 months, holding emerging mid-tier status producing 100,000 ounces per annum, with a four to five-year mine plan,” Price said.

New discovery targets include the Blister Dam project area, Anthill east and Fire Ant and new targets within the Teal gold camp.

Resource growth drilling will focus on extensions along strike and at depth at Anthill, Teal and the new Jacques Find discovery.

“The 25,000 metres of drilling at Teal has indicated four multiple, parallel structures sitting within a six-kilometre strike window,” Price continued.

“We now know this is a very big system, from which we expect a continuous flow of drilling results and Resource updates and mine planning as we look to understand how big this system is, particularly at depth.”

“We are conducting 14,000 metres of drilling at the Ant Hill mine to extend strike from the from the 80,000 ounces of Resource we have now to over 100 metres strike,” Price said.

“We anticipate extending to over 400 metres of strike and increasing the Resource by the same multiplication factor, but we have to let the drill bit tell us that.”

Intermin’s December quarter will be all about new discoveries at Blister Dam where the company will be drilling an area not drilled since the 1990s.

“There are not a lot of drill holes below 80 metres and where we have started to put some tester holes we are already hitting some very good grades,” Price said.

Besides its gold interests, Intermin has several Joint Ventures in place across multiple commodities and regions of Australia providing exposure to vanadium, copper, PGE’s, and nickel/cobalt where the JV partners are collectively earning in to projects by spending over $20 million over five years, thus enabling the company to focus on its gold business while maintaining upside leverage.

The most advanced of these is the Richmond vanadium project in northwest Queensland with a total Mineral Resource of 2,579 million tonnes at 0.32 per cent vanadium oxide (V2O5) at a 0.29 per cent cut-off.

JV partner AXF has committed to the project’s stage 2 expenditure of $5 million over three years to March 2021 inclusive of a Feasibility Study on commercial production to qualify for a 50 per cent interest.

In late 2017, AXF collected approximately 1.2 tonnes of vanadium samples from the Lilyvale prospect area sent to two research laboratories in China: Beijing General Research Institute of Mining and Metallurgy (BGRIMM), and Hunan Research Institute for Nonferrous Metals (HRINM).

Both Institutes account for over 60 per cent of test work conducted on vanadium in China jointly developed using AXF’s in-house expertise.

Metallurgical work on Lilydale samples confirmed previous work where 90 per cent of the contained V2O5 reported to the fine size fractions below 43 microns.

Initial two-stage concentration tests resulted in a 1.1 per cent V2O5 grade in 39 per cent of the mass at a 78.4 per cent recovery.

Work is now underway to optimise the pre-concentration stages with the aim of delivering a 1.5 per cent to two per cent V2O5 feed stock at acceptable recovery for downstream processing testwork.

“Results such as these from two highly-credentialed research institutes in China was a great result for the project,” Price said.

“We are now working with AXF on the downstream processing studies and upgrading the Lilyvale resource.”

 

Intermin Resources Limited (ASX: IRC)
…The Short Story

HEAD OFFICE
163-167 Stirling Hwy
Nedlands WA 6009

Ph: +61 (8) 9386 9534

Email: iadmin@intermin.com.au
Website: www.intermin.com.au

DIRECTORS
Peter Bilbe, Peter Hunt, Jon Price

 

Alto Metals Re-invigorating Sandstone Gold Potential

THE INSIDE STORY: Alto Metals is aiming to re-establish standalone oxide and primary gold mining and milling operations at the company’s Sandstone gold project in Western Australia.

Alto Metals holds 800 square kilometres of the prospective Archaean Sandstone Goldfield in the East Murchison Mineral Field of WA.

Alto acquired the project in June 2016 and has compiled and reviewed a large legacy database leading to a series of focused exploration and drilling campaigns.

“We acquired the project in June 2016 andthe tenements were granted in September that year,” Alto Metals managing director Dermot Ryan explained to The Resources Roadhouse.

“During that 18 months we completed a detailed airborne magnetic survey, compiled a data base and made some new discoveries.

“Most of the Sandstone belt is covered by a layer of soil and sand and laterite, so airborne magnetics are needed to look to the basement rocks underneath to find favourable lithologies and structures for gold mineralisation.

“We did that, then burrowed through the Western Australia Mines Department historical soil sample and historical drilling results.

“We integrated those data sets and identified 56 targets we divided into camp-style areas, ranking them in order of potential prospectivity.”

Armed with this information, Alto aims to delineate a combined one million-ounce JORC 2012-compliant Mineral Resource, to be the basis for recommencing operations.

Work date has demonstrated this resource is likely to comprise relatively shallow gold deposits from brand new discoveries – new discoveries near known small deposits in the vicinity of Vanguard and Indomitable and expanding existing deposits such as Lord Nelson and Lord Henry.

“Oxidisation in the Sandstone region is around 50 metres deep, so drilling an angled hole to average of 41 metres depth, like many previous explorers at Sandstone, doesn’t test the primary zone,” Ryan explained.

“At targets such as Vanguard and Indomitable, we are drilling deeper, inexpensive aircore holes to get a good look in that primary zone with the view of developing these targets into open pit Resources we can mine from surface.

“For a junior company, discovering and mining a new deposit that is oxide on top and primary zone within 100 metres of surface is a better first option than drilling 200 to 300 metre holes under somebody else’s old pit.

“This deeper drilling can be funded later, or done now by others, if they have the requirement and the necessary funds.”

From a one-million-ounce start, Alto’s hopes to define over five million ounces of gold, which it considers comparable to other more intensely explored greenstone belts in the Yilgarn area.

Early results from RC and AC drilling conducted at the Vanguard and Indomitable targets demonstrated the Vanguard system contains many high-grade mineralised structures.

Alto’s drilling at Vanguard discovered four new high-grade mineralised structures, in addition to the previously known structure, providing further evidence the Vanguard system is robust and open.

Assay highlights from Alto’s RC drilling of the oxide zone at Vanguard included:

SRC046
8 metres at 7.8 grams per tonne from 34m;

SRC064
29m at 2.3g/t gold from 28m; and

SRC067
33m at 2.3g/t gold from 39m.

RC drill results from the primary zone at Vanguard included:

SRC075
22m at 4.2g/t gold from 88m, including 3m at 13.3g/t from 28m;

SRC016
17m at 4.5g/t gold from 122m, including 2m at 12.2g/t gold from 133m;

SRC032
22m at 3.3g/t gold from 103m, including 1m at 15g/t gold from 109m; and

SRC048
7m at 7g/t gold from 126m, including 2m at 10.8g/t gold from 128m.

“Between May and June 2018 we drilled over 12,000 metres of aircore over ten high priority prospect areas at Sandstone,” Ryan said.

“Approximately half of these holes, and half of the metres, were drilled around Vanguard and between Vanguard and Vanguard North.”

All five mineralised structures at Vanguard plunge shallowly to the northeast and remain open at depth.

The oxidation base was encountered at approximately 50m depth with mafic volcanics being the primary host rock.

A soil sampling program early this year identified a two square kilometre gold in soil anomaly connecting Vanguard and Vanguard North.

Assays of 197 of almost 400 samples from the Hancocks Mining Centre south of the Bull Oak pits defined a coherent 30 parts per billion (ppb) gold-in-soil anomaly over 9sqkm.

Assays from 28 samples out of a total of 340 samples collected near the Edale Fault returned anomalous results of over 7ppb gold in two discrete linear zones, each between 1,000m to1,500m long.

A third target, Chance, also lies on a splay of the Edale Fault.

“Our sampling program appears extensive, but we’re not blanket covering the whole belt,” Ryan said.

“We have focused on target areas of historic work that is incomplete.

“Once there, we are conducting detailed soil sampling to see if we can expand or constrain those targets for follow-up drilling.

“Although we have already completed 12,000 metres of aircore drilling this year, we have another 8,000 metres scheduled.”

More recent soil sampling over a geophysical target approximately 12km south of Sandstone has defined a plus 7ppb gold anomaly striking southeast over 1,500m.

In keeping with the history of naming prospects at Sandstone after WW1 British battleships, the target was dubbed ‘the Superb Anomaly’, possibly due to it returning a maximum value of 228ppb gold, with a further 13 samples returning over 15ppb gold.

The area hosting the Superb Anomaly was initially identified by Barry Bourne, a consultant of Terra Resources, in 2017 after processing and interpreting the detailed aeromagnetic data mentioned above that had been flown and/or compiled by Alto over the entire Sandstone project area.

Bourne described the target as, “a break in sediment/mafic stratigraphy with proximal mineralisation”.

“The Superb Anomaly lies in an area of iron rich duricrust, or laterite, so we need to determine whether the gold is representative of a primary gold source at depth, or is alluvial in nature,” Ryan explained.

“Further soil sampling will determine the extent of this gold in soil anomaly which is open to the south east.

“We have lodged a Program of Work for Aircore drilling with the Department of Mines, Industry and Safety and are awaiting approvals to enable us to start drilling.”

At the same time as the search proceeds for the new one million ounce discovery, Alto is reviewing potential for generating early cashflow from treating 100 year old battery sands from Hacks, Oroya, Havilah and Maninga Marley prospects.

Auger sampling and metallurgical test work is underway to determine the material’s viability for being incorporated into a low-cost heap leaching operation.

“There is still a lot of gold – underground – at Oroya, and we’re currently digitising the old level plans and having a look at what might be a residual Resource that we could do something with – or somebody else might want to do something with,” Ryan said.

“Hacks is another deposit mined by the old timers to the south of Sandstone that historically produced around 206,000 ounces of gold at 28 grams per tonne gold.

“In the short term we are reviewing all the existing open pits and looking at what potential may lie beneath them.

“The deposits we are looking at all have very high-grade in the primary zone.”

 

Alto Metals Ltd (ASX: AME)
…The Short Story

HEAD OFFICE
Suite 9
12 – 14 Thelma Street
West Perth, WA, 6005

Ph: +61 8 9381 2808

Email: admin@altometals.com.au
Web: www.altometals.com.au

DIRECTORS
Terry Streeter, Dermot Ryan, Dr Jingbin Wang, Terry Wheeler

 

Lithium Australia Subsidiary Commences Production of Lithium-ion Cathode Material

THE BOURSE WHISPERER: Lithium Australia announced the first cathode material produced at VSPC’s re-commissioned pilot plant in Brisbane destined for delivery to international battery makers in Q4 2018.

A Lithium Australia subsidiary, VSPC is a specialist battery-component research and development laboratory.

The latter’s pilot production facilities in Brisbane are now fully re-commissioned, and lithium-iron-phosphate (LFP) battery cathode material is being produced.

International battery makers have previously shown strong interest in VSPC’s 4th-generation LFP cathode material.

Tests completed late in 2017, demonstrated the performance of VSPC’s cathode material exceeded that of an industry standard material.

With its electrochemical laboratory facilities now fully operational, the quality and consistency of VSPC’s pilot-production materials are currently being verified via the company’s advanced, on-site electrochemical testing facilities, the capabilities of which include the ability to assemble and test lithium-ion coin and pouch cells.

“VSPC gives Lithium Australia the opportunity to manufacture the world’s most advanced cathode materials – at the high-margin end of the battery metals market,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“Importantly, VSPC will also allow us to capitalise on waste batteries as a feed source.

“We anticipate immense pressure on the supply of energy metals such as lithium and cobalt in the near future.

“Battery recycling not only supports sustainability but may also, ultimately, prove the cheapest source of those energy metals materials in years to come.

“The ability to produce cathode powders from these materials, while also controlling particle size, is clearly advantageous.

“It is an integral part of our sustainable and ethical supply policy.”

 

Email: info@lithium-au.com

Website: www.lithium-au.com

 

Impact Minerals Drilling at Clermont Gold Project

THE DRILL SERGEANT: Impact Minerals (ASX: IPT) has commenced drill testing of five target areas at the company’s 100 per cent-owned Clermont gold project located in the southern part of the Drummond Basin in Central Queensland.

Impact Minerals identified the targets via geophysical and geochemical data.

The project lies 30 kilometres south of the town of Clermont and about 50km south of Impact’s recently acquired Blackridge conglomerate-hosted gold project.

“A recently completed gradient array Induced Polarisation (IP) survey has identified multiple coherent northeast trending linear resistivity anomalies that coincide in part with numerous outcrops of gold-bearing quartz veins,” Impact Minerals said in its ASX announcement.

“The resistivity data suggests that the quartz veins extend over a strike length of at least 6,000 metres.”

Impact has taken 98 rock chip samples from variably gossanous quartz veins over the 6,000 metres of strike that returned assays of up to 8.1 grams per tonne gold with 35 samples returning assays of more than 0.1g/t gold and 10 returning assays greater than 1g/t gold.

“A review of an MMI soil geochemistry survey completed by Impact in 2012 showed that the linear resistivity anomalies are coincident with elevated gold, silver and lead in soil values as well as elevated copper to the north and zinc to the east,” the company said.

“The IP data together with the soil and rock chip geochemistry data have been used together with previous drilling data where appropriate to identify five priority areas for drilling.”

The Clermont gold project is located in the southern part of the Drummond Basin, which Impact described as being a prolific epithermal gold-silver belt hosting several world class gold deposits such as Pajingo (Vera-Nancy) (greater than 5 Moz), Mt Leyshon (greater than 3 Moz) and Mt Wright (greater than 1 Moz).

 

Email: info@impactminerals.com.au

Website: www.impactminerals.com.au

 

Cassini Resources Confirms H-T Lode Potential

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced further drilling success at the West Musgrave Project (WMP) Joint Venture with OZ Minerals (ASX: OZL) in Western Australia.

This time the announcement stemmed from extension drilling at the Babel deposit.

Cassini Resources explained diamond drillhole CZD0077 is the first hole to test a strong Moving Loop Electromagnetic (MLEM) and coincident Down Hole Electromagnetic (DHEM) conductor representing an extension to the Babel Deposit.

The hole intersected:
25.6 metres at 0.63 per cent nickel, 1.04 per cent copper, 0.03 per cent cobalt, 0.23 grams per tonne platinum group elements (PGE) and 0.11g/t gold from 317.3m, hosted with a 34m zone of gabbronorite.

This hole is consistent with the nearest drill hole, WMN4049, that returned an earlier intercept of:
25.1m at 0.94 per cent nickel and 0.94 per cent copper, 0.03 per cent cobalt, 0.28g/t PGE and 0.11g/t gold from 311.6m.

This mineralised zone known as the H-T Lode, which the JV has interpreted to appear as the faulted extension of the Startmeup Shoot and demonstrates a similar style of mineralisation, grade and geometry.

Cassini said the H-T Lode is now considered as an important target as an extension to the proposed Babel open pit design either by cutback or through underground mining.

“The JV Partners are encouraged with this early success to the resource extension program which demonstrates the potential up-side to the existing Nebo-Babel resource,” Cassini Resources said in its ASX announcement.

“The diamond rig is currently drilling other extension and infill targets at Nebo and Babel.

“A follow-up hole will be drilled to test mineralisation along strike to the west, which is currently open, following completion of DHEM and geological interpretation.

“A second diamond rig has recently started drilling at the One Tree Hill prospect following the company’s systematic plan for regional exploration throughout 2018.”

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Draig Resources Claims Second Tribune Gold Discovery

THE DRILL SERGEANT: Draig Resources declared a new gold discovery situated only 250 metres in the footwall of the Tribune Lode at the company’s Bellevue gold project in Western Australia.

Draig Resources completed a total of five holes, consisting of three re-entries of previously drilled Tribune Lode holes and two new holes from surface, which it said has confirmed mineralisation over 800 metres strike within what was known as the Gap target.

The company described the target is being situated in a position that potentially represents the offset continuation of the historic Bellevue Lode (previously mined underground) to the west of the Highway Fault and is in the footwall, below the recent Tribune Lode gold discovery.

The first drill hole into this new target area (DRDD059) from which was reported an intercept of 3.4 metres at 10.4 grams per tonne gold from 575.3m in pyrrhotite, chalcopyrite, quartz veining with abundant fine visible gold inclusions.

Latest results from broadly spaced (approx. 250 metres apart) drilling has defined a new high-grade gold zone over 800 metres strike length:

DRCD022
2.5m at 13.1g/t gold from 560.5m, including 1m at 28.5g/t gold from 560.5m;

DRDD059
4.3m at 8.8g/t gold from 575.3m, including 3.4m at 10.4g/t gold from 576.2m and 0.3m at 44.4g/t gold from 584.3m;

DRDD051
0.5m at 16.2g/t gold from 565.5m;

DRDD060
1.4m at 9.7g/t gold from 597.8m, including 0.5m at 20.7g/t gold from 598.6m; and

DRDD055
0.3m at 35.8g/t gold from 627.2m.

“The company is pleased to report its second new significant high-grade gold lode discovery at the Bellevue gold project,” Draig Resources executive director Steve Parsons said in the company’s announcement to the Australian Securities Exchange.

“This new discovery is currently defined over a strike length of 800 metres and we see significant potential to extend this as we step out with our current drill program.

“To consistently hit in all holes drilled this new mineralised shear zone and grades encountered over step-out drilling greater than 250 metres apart is extremely encouraging and points to the high quality of the mineralised lode system at the Bellevue gold project.”

 

Email: admin@draigresources.com

Website: www.draigresources.com

 

Alto Metals Widens Hancock Anomaly

THE DRILL SERGEANT: Alto Metals (ASX: AME) has widened a gold-in-soil anomaly at the Hancocks prospect, part of the company’s Sandstone gold project in the East Murchison Mineral Field of Western Australia.

Alto Metals has received assay results for an additional 271 soil samples from the Hancocks prospect, taking the total to 478 samples collected in April 2018, which have defined a highly anomalous and coherent +15 parts per billion (ppb) gold-in-soil anomaly over eight square kilometres.

The company indicated that 93 of these samples (19% of total collected) assayed greater than 30ppb.

“Results from the first of three batches of soil samples collected at Hancocks, south of the Bull Oak open pits were reported on 13 June 2018,” Alto Metals explained it its ASX announcement.

“The results from the remaining two batches have now been received and integrated with the first batch to show the totality of the Hancocks eight square kilometre gold-in-soil anomaly.

“The regolith in this area is shallow, and there are numerous shafts and pits present (developed in the period 1894-1920) where the dumps surrounding the shafts contain fresh differentiated dolerite, banded iron formation (Bif), sediments and quartz.”

 

Email: admin@altometals.com.au

Website: www.altometals.com.au

 

Triangle Energy Now Registered Operator at Cliff Head

THE BOURSE WHISPERER: Triangle Energy (ASX: TEG) via its operating affiliate Triangle Energy (Operations) Pty Ltd (TEO) has become Registered Operator of the Cliff Head Joint Venture onshore and offshore facilities, located in the Perth Basin approximately 300 kilometres north of Perth.

Triangle became the majority (78.75%) owner and operator of Cliff Head in May 2017, at which time a third party contractor was the Registered Operator of the facilities on behalf of the Joint Venture.

To become the Registered Operator, TEO developed two Safety Cases for the Cliff Head facilities that were accepted and approved by the relevant Regulatory Authorites: The Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) for the onshore Arrowsmith Stabilisation Plant (ASP), and the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for the offshore Cliff Head Alpha Platform.

Triangle Energy said that the Approval of the Safety Cases demonstrates that TEO, as the new Operator of Cliff Head, has properly identified hazards and risks, can describe how the risks are controlled, and has defined the safety management system in place to ensure these controls are effectively and consistently applied.

Triangle commissioned a full and independent Operational Readiness Review to strengthen its accountability as the Registered Operator.

The review will ensure TEO is capable to not only comply with the approved Safety Cases but also has the full suite of processes, systems and competent people to execute production operations upon operatorship handover.

“Benefits of being the Reigstered Operator include more effective communication between the operation and management, improved response times to opportunities or issues, and increased in-house knowledge and accountability,” Triangle Energy managing director Rob Towner said in the company’s announcement to the Australian Securities Exchange.

“Strategically, operational control will allow Triangle to drive systemic changes to the Cliff Head Operation, including updating maintenance plans and optimising operating models, all of which will yield sustainable cost savings and increased margins.

“The Safety Cases are tailored for maintaining the integrity of the operation and demonstrate that we know the risks and can manage them effectively.

“Approval of the two comprehensive Safety Cases is a great achievement and I’d like to thank everyone involved in developing these documents, liaising with DMIRS and NOPSEMA, and helping Triangle become the Registered Operator of its own assets.”

 

Email: admin@triangleenergy.com.au

Website: www.triangleenergy.com.au

 

Cassini Resources Confirms Yappsu Mineralisation Hit

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced a second serious intersection of massive sulphide mineralisation at the Yappsu prospect within the company West Musgrave Project (WMP) Joint Venture in Western Australia with OZ Minerals (ASX: OZL)

Cassini Resources released the assay results of diamond drill hole CZD0076B, from which it had previously reported visual observations in June.

The company said the best assay results for CZD0076B confirmed nickel and copper sulphide mineralisation in three distinct units:

1. A massive sulphide zone returning 6.45 metres at 1.67 per cent nickel, 1.07 per cent copper, 0.14 per cent cobalt and 0.49 grams per tonne platinum group elements (PGE).

These levels of cobalt and platinum group elements (PGE) are some of the highest recorded at the WMP;

2. An upper heavily disseminated zone of 15.25m at 0.6 per cent nickel, 0.77 per cent copper, 0.02 per cent cobalt, 0.31g/t PGE and 0.18g/t gold. Significant gold mineralisation potential has not been previously recognised.

3. A lower broad disseminated zone of 55.6m at 0.32 per cent nickel, 0.34 per cent copper, 0.01 per cent cobalt 0.23g/t PGE and 0.06g/t gold.

The combined weighted average of all intercepts is 77.8m @ 0.49 per cent nickel, 0.49 per cent copper, 0.2 per cent cobalt, 0.29g/t PGE.

Cassini described this as, “the most significant intercept at the prospect to date on a contained metal basis”, adding that it has confirmed its belief that historical drill holes had not intersected the core of the mineralised system.

Mineralisation has continuity over 250m down-plunge and appears to be strengthening at depth which remains completely open and is yet to be tested by the JV’s current Downhole Electromagnetic (DHEM) or surface Moving Loop Electromagnetic (MLEM) systems.

Additionally, the disseminated mineralisation has a weak EM signature and may extend up-plunge closer to surface than indicated by the EM models.

The up-plunge position has not been tested by drilling.

The company considers this result to be a turning point in the exploration of the Yappsu prospect within the context of the broader WMP.

It Although an early stage prospect, Yappsu is currently being pursued by the JV as an opportunity that could support the development of the Nebo-Babel deposits.

“The results from the first two holes at Yappsu are very significant,” Cassini Resources managing director Richard Bevan said in the company’s announcement t the Australian Securities Exchange.

“The mineralised trend north east of Nebo-Babel has now been shown to host some of the highest tenor sulphide mineralisation identified so far in the project area.

“This has big implications for our continued exploration programs and also for the development scenarios at Nebo-Babel, where the discovery of additional high-grade ore could materially impact the project metrics.

“The early success of our exploration program is a result of the significant work of our technical team and has demonstrated that our targeting strategy is becoming very efficient and effective indeed.”

 

Email: admin@cassiniresources.com.au

Website: www.cassiniresources.com.au

 

Vango Mining Locates Coarse Vein Gold at Apex Prospect

THE DRILL SERGEANT: Vango Mining (ASX: VAN) declared generation of another high‐grade gold target at the company’s 100 per cent‐owned Plutonic Dome gold project in the Mid‐ West region of Western Australia.

Vango Mining said the identification of the new target came via discovery of widespread coarse ‘nugget’ gold at surface and vein‐hosted gold in float samples at the Apex prospect, located in the north east of the project.

Vango recently conducted a first‐pass reconnaissance exploration program around Apex and other tenements in the area, led by leading minerals prospector Bob Creasy that returned multiple coarse gold ‘nuggets’ and located the coarse vein‐gold in weathered float in an area of shallow cover.

The float is interpreted as being close to a contact zone between a Syenite intrusive and inter‐bedded mafics and ultramafic meta‐volcanics tying in with the company’s view that the location of coarse vein‐gold in granitic/syenitic float rocks may indicate a bedrock source for the wide‐spread coarse nuggets in this area.

“The bedrock below the coarse‐vein gold discovery has yet to be examined in detail or been subjected to systematic gold‐focused exploration programs,” Vango Mining said in its ASX announcement.

“The company now plans to conduct a surface mapping/prospecting programme of the Apex area to identify priority zones, and then commence geochemical drilling to test for primary, high‐grade, gold mineralisation.”

Vango is currently drilling key targets within the Plutonic Dome project area, commencing with the Trident gold deposit.

This drilling has already delivered intersections of very high‐grade gold mineralisation and drilling is now stepping‐out to target repeats of the ‐high grade core of the Trident deposit at depth.

Drilling is also planned to test the Cinnamon, conglomerate hosted, gold deposit.

In parallel with the drilling at Plutonic Dome, Vango has commenced a regional exploration program across the wider Plutonic Dome project, designed to define and assess other target areas across the project.

 

Website: www.vangomining.com